Even the steps like three-month moratorium on EMI payments offered by banks to borrowers hit by Covid-19 lockdown are not providing any income protection as they will have to bear the extra cost of interest charged by lenders and a longer repayment period.
As the RBI pumps in more cash into the banking sector, deferring or relieving the MSMEs of loan repayments could come as a welcome move. Most businesses are looking for financial support from the government and doing this can help them cope with cash flow problems.
Amidst the Covid-19 outbreak and the subsequent lockdown, compensating for, or finding alternatives to China’s production capabilities to supply raw materials and capital goods will not be easy for the Indian chemical industry.
Severe cash flow issues making it tough to follow govt directive to pay workers; more lockdown will worsen it.
During the lockdown period due to COVID 19 pandemic the government will be paying Rs 36.3 crore to the establishments who would be claiming reimbursement for engaging apprentices under NAPS during this period.
The ministry has advised all states to resume training and orientation within 30 days of the revocation of the lockdown and be completed before August 31,2020 while all assessments and certification should be completed by September 15, 2020.
Approximately 150 small businesses globally will receive a monetary support of up to Rs 1 lakh with markets such as US, UK, Russia, Germany, Australia, India, France, Canada, Mexico, Ireland and New Zealand being the primary recipients.
While a majority of small businesses are finding it impossible to manage their team, allot work or even oversee accounting and compliance, those companies which have opted for SaaS-based compliance solutions, are faring well.
A highly fragmented and unorganised industry, India’s logistics sector is in disarray because of disruptions caused by the nationwide lockdown. What will it take for the sector to find its feet after being battered by Covid-19?
19% to 43% of the MSMEs may disappear if the crisis persists 4 or 8 weeks.
The problem with this crisis is, no one knows when it would be over. Even the RBI hopes the pandemic will fizzle out in three months, but that time frame is up in the air. In such a scenario, is the period of three months enough?
The special scheme will help MSEs to acquire equipment, plant and machinery, other assets including raw materials required for production or delivery of services.
To fight the coronavirus pandemic India needs more ventilators, much more. Noida-based AgVa Healthcare, which manufactures low-cost portable ventilators, is increasing its production to meet the rising demands.
Public sector banks, including State Bank of India, Bank of Baroda and Indian Bank, have already rolled out similar lines of credit for their customers to meet any liquidity mismatches.
This has been a particularly distressing time for small businesses and SMEs who stare at an uncertain future.
This is being done in consultation with the ministry of finance and there are expectations that more banks will follow through with similar decisions.
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